Navient is actually a buddies that functions government and private figuratively speaking. Up until now, Navient got a contract to solution government student education loans owned by new You.S. Company away from Degree, including many funds generated within the Lead Mortgage System and you can a smaller sized quantity of fund generated under the Government Nearest and dearest Education loan (FFEL) Program. Into , the latest You.S. Department from Studies revealed the latest import of deal off Navient so you’re able to Aidvantage, a department of Maximus Federal Characteristics, Inc. not, Navient continues to solution government student education loans made underneath the FFEL System which might be belonging to personal lenders in addition to non-government personal college loans.
Navient was created in 2014, in the event that business next called Sallie Mae (formally, SLM Company), broke up the loan maintenance and you will data recovery company from the individual financial team. (more…)